The cable has revealed its strong correlation with EUR/USD by failing to sustain the rally above the bearish line, changing its direction just ahead of the 16-month high (1.6308).
Even though the bullish momentum appeared to be rather strong, as EUR/USD has been violating supports since August, bulls proved to be unable to throw the price over the major declining trend-line that has been preventing surges from emerging for the last 19 months.
Pair received a bearish impetus from 20-dai SMA at 0.8338 and has been depreciating ever since—for the time being it dipped 100 pips in the course of 16 hours.
After finishing in rather disappointing tone yesterday pair started today with a blast—it appreciated 20 pips in the first 4 hours, which was followed by a minor set back slightly above 0.99 and rocketed another 25 pips in next 4 hours.
After a minor recovery yesterday pair continued its rally and managed to depreciate more than 50 pips today.
Pair started the day immediately with a dip and did not manage to recover despite the best efforts of the bulls and at the moment is hovering below 111 JPY.
USD/CHF pair found a support at a 0.9120 level, the 423% Fibo and the lower down-sloping channel line, and firmly appreciates from it today.
USD/JPY pair depreciates from the highest level since April, 2012, but the price remains in a wide channel with boundaries at 83.82 and 84.42.
GBP/USD repeats the major currency pair's actions recently.
EUR/USD pair was testing a 1.3240 level yesterday and ,despite an upside impulse, the price was finally pushed back and closed exactly at the 1.3240 level after Thursday's trading session.
Pair continuing its bearish correction and at the moment is supported by 20-day SMA and monthly R1 at 0.833. Taking in to account recent developments and pairs momentum there is a high probability that these levels wont be much of a problem for the pair today making 0.8265 next target.
Early in the session pair tried to recover some of its losses, but dropped by almost 30 pips after receiving a bearish impetus from 1.05. It seems that this dip, coming mostly from weekly technicals, will last some time more, but either 1.045 or 1.0417 should become those levels which should kick the pair in higher gear as in these
Despite a rather choppy session today pair is continuing its humble rally as 100 and 20-day SMA's seems to have become strong support levels for the pair. However, current market sentiment and recent developments around 0.99 area suggests that pair might not breach this important level at once but, rather do so (if to do at all) in the course
Pair took a brake while trying to breach 112. Yesterday and today, it managed to briefly advance above this important psychological level, but monthly R2 yesterday and Bollinger band today were the main obstacles. It seems that for the time being pair lacks the catalyst which could push it further. Situation might be completely different next week, but for the
USD/CHF pair's depreciation was stopped at 0.9130 yesterday.
USD/JPY currency pair slips lower after yesterday's new peak at 84.60.
GBP/USD pair experienced a volatile trading session yesterday.
Seems that EUR/USD pair loses it up-trend momentum, as the price yesterday peaked at 1.3306, but finally reversed and retreated back to a 1.3240 level, which is important resistance from the spring's channel pattern.
Pair has already depreciated more than 50 pips today as it is trying to consolidate below the autumn high at 0.8356. However, it is likely this level will give at least a short lived bullish impetus for the pair and we should see a recovery to 0.84. After that it becomes a bit more complicated as whole area from 0.84
Earlier today pair had difficulties trying to consolidate above 0.985, but at the moment the outlook is fairly positive as it is testing 100-day SMA at 0.9879. However, longer term prospects raise a lot of doubts as pair is approaching area which is rather compacted with resistance levels.
Earlier in the session pair tried to recover some of its yesterdays losses, but received yet another bearish impetus from 1.0533 and at the moment it is supported by 20-day SMA/weekly S1 at 1.0486/81. It seems it is enough for the time being, but we might be up for a major dip as there are not much major support levels
Pair has been appreciating ever since it hit 110 JPY and at the moment it is testing monthly R2 at 112.36. Pair has had a very impressive rally for quite some time now and it raises a lot of suspicions that pair is way in the overbought area and the only questions is how long till bearish correction. Especially taking
USD/CHF pair experiences a heavy depreciation, as the price decreased to the lowest level since May, 2012. The exchange rate moves along the lower Bollinger line towards the weekly S1 at 0.9101 and the monthly S2 at 0.9079. Looking from a wider perspective in the weekly graph the lower Bollinger line is at 90.70, which will be a strong resistance
Bullish sentiments and expectations in USD/JPY pair lifted the price to a new high at 84.43, which is the highest level since April, 2012. After a weekend's gap the exchange rate slipped to the weekly R1 at 83.85, however, without closing a gap, reversed and increased further. The price shows significant expectations to receive a positive decision from the Bank